#Litecoin is the largest of the “bitcoin clones,” making it far more understandable for most investors.
Its founder, a former Google engineer, designed Litecoin by using bitcoin’s original codebase and modifying it to create blocks four times faster.
That has made the younger fork cheaper and faster than bitcoin to verify.
Litecoin’s size also makes it less vulnerable to a “51% attack” than other bitcoin-like currencies.
Litecoin closed down -1.660 at 151.230. Volume was 20% below average (neutral) and Bollinger Bands were 17% wider than normal.
Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the bullish or bearish trend reflected in the lower ribbon.
Summary
Litecoin is currently 4.2% above its 200-period moving average and is in a downward trend.
Volatility is extremely high when compared to the average volatility over the last 10 periods.
There is a good possibility that volatility will decrease and prices will stabilize in the near term.
Our volume indicators reflect volume flowing into and out of Litecoin at a relatively equal pace (neutral).
Our trend forecasting oscillators are currently bearish on Litecoin and have had this outlook for the last 5 periods.
The security price has set a new 14-period low while our momentum oscillator has not.
This is a bullish divergence.
Overall, the bias in prices is: Sideways.
A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 6 white candles and 4 black candles for a net of 2 white candles.
During the past 50 bars, there have been 26 white candles and 23 black candles for a net of 3 white candles.
HEFFX has become one of Asia’s leading financial services companies with interests in Publishing, Private Equity, Capital Markets, Mining, Retail, Transport and Agriculture that span every continent of the world. Our clearing partners have unprecedented experience in Equities, Options, Forex and Commodities brokering, banking, physical metals dealing, floor brokering and trading.